27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
Markets were up on Tuesday, driven by a surge in energy stocks, which were boosted by a rise of roughly 4 percent in oil prices and a 5.6 percent increase in natural gas prices.
The S&P 500 Index rose 0.97 percent, partly driven by Chesapeake Energy Corporation (NYSE: CHK), which was up 34.56 percent, and Southwestern Energy Company (NYSE: SWN), which returned 15.44 percent, among other energy companies.
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The Dow Jones Industrial Average gained 0.94 percent. Among the largest gainers were Chevron Corporation (NYSE: CVX), up 2.37 percent, and Wal-Mart Stores, Inc. (NYSE: WMT), up 2.08 percent.
The Nasdaq 100 Index rose 0.8 percent, helped by Netflix, Inc. (NASDAQ: NFLX)’s 4.19 percent gain, and Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN)’s 3.83 percent surge.
Juniper Networks, Inc. (NYSE: JNPR) lost 7.35 percent on the back of the announcement of the company’s first quarter preliminary results. Management expects to earn $0.35 to $0.37 per share on revenue of $1.09 billion to $1.10 billion, down from a previous guidance of $0.42 to $0.46 per share, and $1.15 billion to $1.19 billion, and below consensus of $0.45 per share and $1.18 billion.
Earnings
After the market closed, CSX Corporation (NASDAQ: CSX) reported inline first quarter earnings of $0.37 per share, on revenue of $2.618 billion, which missed estimates by $60 million.
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In the morning, Fastenal Company (NASDAQ: FAST) posted first quarter earnings of $0.44 per share missed estimates by $0.01, while revenue of $986.68 million came in almost $2 million short of consensus. The stock tumbled 3.41 percent during the day.
Finally, there’s Perry Ellis International, Inc. (NASDAQ: PERY), which also reported its quarterly financial results before the bell rang in the morning. Fourth quarter EPS of $0.35 and revenue of $214.36 million were both in line with consensus expectations.
After-Hours Movers
Shares of Medivation Inc (NASDAQ: MDVN) were trading up more than 9 percent in Tuesday’s after-hours session, perhaps driven by reports about a "rebuffed takeover approach" from Sanofi SA (ADR) (NYSE: SNY).
APain Therapeutics, Inc. (NASDAQ: PTIE) gained more than 7.5 percent on news the FDA had accepted REMOXY’s New Drug Application (NDA) for review, setting a PDUFA date of September 25, 2016.
Valeant Pharmaceuticals Intl Inc (NYSE: VRX) was down about 5 percent, on a Wall Street Journal report that a creditor, bond fund Centerbridge, notified the company of its intention to call a default.
Other stocks moving after-hours:
- Delek US Holdings, Inc. (NYSE: DK), down 5.5 percent
- Tailored Brands Inc (NYSE: TLRD), up 4.6 percent
- Layne Christensen Company (NASDAQ: LAYN), up 3.6 percent
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.